Phishing attempts clash with ftx creditors on the brink of repayment

Table of Contents

The phishing attack targets FTX creditors a few days before the bankruptcy exchange begins its long-awaited payment process.

On February 16th, FTX creditor Sunil Kavuri sounded an X alarm about a potential data leak, warning that the fraudster was currently sending phishing emails to creditors.

According to Kavuri, the leak could be attributed to FTX or its billing agent, Kroll, and its user’s full name and email address are published. As a result, the bad actors are pretending to be a bankrupt exchange in an attempt to fraudulent victims.

A screenshot shared by Kavuri reveals that one of the phishing emails encourages recipients to check the recovery phrase for security reasons. This message contains malicious links designed to steal sensitive information.

Kavuri warned FTX creditors by clicking on the link from an unsolicited email. He advised to check the sender address, check the official billing portal for updates, and rely on X’s FTX official channel for accurate information.

This latest scam follows a series of phishing attacks that have plagued FTX creditors since the exchange collapsed.

FTX refund

On the other hand, this arrives at particularly sensitive times as repayments are about to begin.

Earlier this month, the joint official liquidator (JOLS) of FTX Digital Markets Ltd. confirmed that the distribution of small creditors will begin on February 18th. Interest rate after petition of 9%.

Funds are distributed through a verified Bitgo account linked to the creditor’s registered email address. To avoid delays in processing, billers must check their account details through the billing portal.

Many industry players argue that this payment could be a further pioneer in the bull market. Kavuri estimates that around 50% of billed buyers representing $400 million are unlikely to reinvest in crypto.

Meanwhile, the original FTX creditors, which account for around $400 million, are expected to retain only a portion of their repayments on digital assets.